Climate-tech innovator Forge Industries has successfully secured $3.85 million in a new funding round to advance its pioneering waste-to-energy solutions. The investment was co-led by Next Phase Capital, the growth firm established by BrightStar Care founder Shelly Sun Berkowitz, alongside technology-focused venture firm 8090 Industries. This significant capital infusion is earmarked for the development of the company's inaugural U.S. biofuel facility, slated for construction outside of Las Vegas later this year.
A Vision Born from Global Experience
The driving force behind Forge Industries is founder and CEO Chelsea Boyle, whose mission was shaped by firsthand observations of waste's environmental impact while researching in Senegal. This experience inspired her to create a company dedicated to establishing a circular fuel economy by converting hard-to-recycle materials into a sustainable power source. Her vision is to transform a global liability into a valuable asset, creating a scalable solution for both waste management and energy production.
From Concept to Commercial Viability
Since its founding in 2022, Forge Industries has demonstrated remarkable progress, evolving from producing small 100-200 kg batches of fuel to executing industrial-scale pilots. By 2025, the company had successfully completed trials exceeding 100 tons, validating its technology through dozens of rounds of testing and continuous improvement. This proven track record was instrumental in attracting strategic investors and positioning the company for its next major milestone: its first full-scale production facility.
Strategic Investment and Hands-On Mentorship
The investment from Next Phase Capital represents more than just financial backing, as founder Shelly Sun Berkowitz will also serve as a board observer, providing ongoing guidance. Berkowitz praised Boyle's leadership, stating, “Next Phase Capital is focused on backing founders who are building transformational businesses in sectors that matter, and Forge represents exactly that type of opportunity.” This partnership provides Forge with both the capital and the deep operational expertise needed to navigate its expansion effectively.
Empowering Women in a Demanding Sector
Chelsea Boyle highlighted the importance of Berkowitz's mentorship, emphasizing the value of her perspective as a successful female founder in a competitive, male-dominated industry. Next Phase Capital is committed to backing exceptional entrepreneurs, with a particular focus on women leading businesses in traditionally underrepresented sectors like climate technology. Berkowitz's experience building BrightStar Care into a national enterprise provides a unique foundation for guiding Forge through the challenges of scaling its operations.
A Practical Solution for Heavy Industry
Forge's innovative technology produces a high-performance industrial fuel that can directly replace coal in energy-intensive sectors like cement, steel, and lime manufacturing. A key advantage is that industrial clients can adopt this cleaner fuel without needing to make costly modifications to their existing equipment. This dual-benefit approach simultaneously lowers costs and emissions for industry while creating a scalable method to convert a global waste problem into durable, abundant energy.
This $3.85 million investment marks a pivotal moment for Forge Industries, enabling the company to transition from successful pilots to full-scale commercial production in the United States. The new facility represents a significant step toward tackling the global waste crisis while providing heavy industry with a cleaner, more sustainable energy alternative. As Forge prepares to break ground, its progress will be closely watched as a key development in building a more resilient and circular economy.